Enterprises in Asia Pacific (APAC) can now take advantage of the new payment solution by Mastercard and Eko-Pay for business-to-business (B2B) transactions.
The solution, called Eko-B2B, is powered by Eko-Pay and integrated with Mastercard's inControl platform — a tool that sends Mastercard credit card users real-time e-mail and mobile app alerts to inform them where and how their cards are being used.
"Many businesses today, regardless of size, engage with a network of suppliers and across multiple markets as they look to not just survive but thrive in a global marketplace. Yet many businesses still rely heavily on traditional, non-digital forms of payments to process business transactions, resulting in wasted time and resources unnecessarily. For businesses that have adopted digital payment solutions, they often face resistance and challenges from their supplier network and vendors in implementing these new processes," said Nagesh Devata, Senior Vice President for Acceptance and Merchant Development at Mastercard APAC, in a joint press release.
"By partnering Eko-Pay to launch a fully automated solution that allows them to experience the enhanced efficiencies and real-time cost savings of using digital payment solutions, we are looking to solve some of these key pain points," added Devata.
The Eko-B2B solution allows round-the-clock access to current and past payment details on vendor and supplier web portals. It also has dashboards that track key business performance statistics.
In addition, Eko-Pay can help businesses with the onboarding process. "Eko-Pay is very pleased to partner Mastercard on this solution that bridges a critical gap in the B2B payment environment," said Jean-Pierre Gagnon, Chief Executive Officer of Eko-Pay. "The entire platform was designed with simplicity in mind to allow for rapid adoption through local and international business networks and provide a long tail acceptance enablement solution."
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